21 May 2012
SENSEX (Close - 16152.80) Sensex
was finally on recovery on Friday's trading session. It was surely expected. It
has intraday low at 15809 and recovered by 350 points. I always say that one
must focus on follow up of trade to conclude for trend reversal. Just one day
of rise is not sufficient to conclude anything. We can expect good trading
support at 16000 for today's trading. If strength continues then we can maximum
expect rise towards 16430-16500. We will see recovery for 2-3 trading days and
we will again see fall from higher levels. In case of rise, market might turn
choppy today. Let us see.
Support - 16080/16000/15900 Resistance
- 16260/16428/16520
NIFTY (Close - 4891.45) Nifty hit
a low of 4788.95 and rebounded. I have already recommended for support @ 4790.
This level was frequently repeated too many times in my blog. Technical charts
are suggesting that extension of this gain towards 4950. Is it really coming?
((Think again if you were shorting @ 4850 + 4800))
Support - 4850/4830/4790 Resistance - 4910/4950/4986
SBIN (Close - 1940.55) I am a
hardcore critic of PSU banking stocks but I was long on this stock before its Q
4 result. It goes in my favour and we have seen a bounce to hit 1957. I am
still sensing for more gains. One can maintain stop loss at 1915. We may see
levels of 1980-2000. I am strongly advising caution at higher levels.
Support - 1919/1900/1886 Resistance - 1958/1980/2002
RELIANCE (Close - 688.55) Few
months back I have recommended for the price target of 680 when it first broke
750. This stock hit 673 and now trying to revive. One can trade on long side
with caution. Keep stop loss at 681 and expect levels of 700+. It may fall from
higher levels again in up coming few days.
Support - 682/674/660 Resistance - 698/708/719
INFOSYS (Close - 2382.85) I am
not very optimistic about medium term or long term outlook but we can expect
some recovery. I suggest to trade on long side with stop loss at 2360 for a
move towards 2430. Cross over off 2430 will push higher levels towards 2500
too.
Support - 2360/2328/2315 Resistance - 2405/2430/2465
BATA Excellent stock for
buying... Hold...?.........sharp move
TATA STEEL Below expectation
result... Below 397 selling opportunity Close above...?.......fresh up-move
TATA MOTOR Last and final support
exit 255 And decide your trading strategy Long and short-side
LT Major support broken... Strong
Resistance 1190-1200 Remain below - do not try to buy
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
240
|
236
|
243
|
247
|
|
S.SELL BELOW
|
235
|
237
|
233
|
226
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
307
|
298
|
314
|
323
|
|
S.SELL BELOW
|
296
|
301
|
291
|
277
|
|
Action
|
Trigger Price
|
Stop Loss
|
Target-1
|
Target-2
|
|
BUY ABOVE
|
195
|
189.5
|
199.5
|
206
|
|
S.SELL BELOW
|
189
|
191
|
185
|
175
|
